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Canada's New Grocery Benefit Starts July 3 — How Much Will You Get?

  If you've been receiving the GST/HST credit, something is changing on July 3, 2026 — and it's actually good news. The federal government is replacing the old credit with a new program called the Canada Groceries and Essentials Benefit (CGEB) , and it comes with payments that are 25% larger. More than 12 million Canadians qualify. No application is required. Here's everything you need to know before the first payment lands. What Is the CGEB? The Canada Groceries and Essentials Benefit is the federal government's replacement for the GST/HST credit, which has been around since 1991. Prime Minister Mark Carney announced the new benefit on January 26, 2026, and it received Royal Assent on February 12 under Bill C-19. The legislation commits $11.7 billion in additional support to Canadians over six years — $3.1 billion immediately through the one-time June top-up, and $8.6 billion over five years through higher quarterly payments. The name change is deliberate — it signal...
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Trade War Looms: Economists Brace for Impact as Loonie Weakens


As the specter of a trade war looms large, economists and market strategists are sounding the alarm, warning of potential repercussions for the Canadian economy. The recent announcement of sweeping tariffs by U.S. President Donald Trump on Canadian goods has sent shockwaves through financial markets, causing the Canadian dollar, or "loonie," to slide to its lowest level since 2003.

Top economists predict that if the tariff war persists, Canada's economy could face its most severe shock since the COVID-19 pandemic. The loonie's decline is expected to exacerbate inflationary pressures and increase the unemployment rate, potentially pushing the economy into a recession. 

Chief Economist Beata Caranci and Senior Economist James Orlando anticipate a "sharp negative reaction" in North American equity markets and further weakening of the loonie, which could drop as low as 65 US cents. The Bank of Canada may be forced to cut interest rates to mitigate the economic impact.

As the situation unfolds, market strategists advise investors to brace for volatility and consider safe-haven assets to weather the storm. The coming weeks will be crucial in determining whether negotiations can avert a full-blown trade war and stabilize the loonie.




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